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Business process outsourcing (often called BPO) in a lame man's terms
can be defined as "a process of sharing your business functions
(responsibilities) with a third party organization which is a proven
expert in doing things that you cannot or do not want to handle
yourself."

The lesser known term is Knowledge process
outsourcing (KPO) it is a type of outsourcing that is less structured
and more specialized than BPO. KPO deals mostly in services that are
highly "knowledge-based", such as: intellectual property research for
patent applications; legal and medical services; training, consultancy,
and research and growth in fields such as pharmaceuticals and
biotechnology and also certain IT fields.

The development of
these outsourcing twins in India has been phenomenal. The rags to
riches story of the outsourcing companies in India is an interesting
read. Everyone knows that India became known to the term "outsourcing
services" in the 1990's with the entry of International airlines
companies like British Airways, Swiss Airlines and other corporate
majors like American Express and General Electric after that BPO
companies in India have progressed on a fast- forward basis.

The entry of the IT majors like Wipro, Infosys, HCL, Satyam, Patni, IBM,
etc. changed the outsourcing services beyond measure, they took the so
called "outsourcing BPO services" from the Lilliput that is was and
transformed it into a global BPO "Titan".

While talking about
India's BPO industry we cannot forget the fact that a significant
contribution was also made by the participation of the rural areas in
the BPO services.

According to a study the India Outsourcing industry will reach a turnover of about $55 Billion in the year 2012.

The reasons for growth of outsourcing to India are listed as:-

Cost effectiveness

An Advantage of Competition

Availability of large English-speaking work force

Risk Moderation

Continuously improvising services

Loftier competency

And finally the unification of "Quality, low-costing and well-timed accomplishment"

Summarizing, we can say that the BPO/KPO industry in India has grown
from the 100,000$ seedling in 1990 to the 55,000,000,000$ tree of 2012
and has affected the life of every Indian in numerous ways.